Norwegian payment platform to launch its hub

The hub is expected to roll out from the second half of 2020

Unite Global

Norwegian payment platform to launch its hub. Source: shutterstock.com

Unite Global announced to have got $5.25 million in funding to launch its UNITE banking payments hub. UNITE is expected to give banks a minimum risk solution to meet customer expectations.

We are no longer in the 1970s. Instant, cheap in-country payments are now commonplace, however, the underlying bank to bank process must still be improved
Tord Coucheron, Unite’s Global’s CTO

Data revealed that Svea Ekonomi, a Swedish financial group, took a 4.95% share of Unite Global in return, valuing the company at $106 million.

From 8 to 12 partner banks will be chosen to create a community offering instant global payment ability for any bank connected into the hub. The hub will select its partners focused on their in-country instant payment presence. The banks to be chosen will share global payment incomes with UNITE.

The hub will be accessible through API, ensuring minimal disruption and minimum cost while connecting to the future bank partners.

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